Alignment Healthcare, Inc. (NASDAQ:ALHC) Position Boosted by State Street Corp

State Street Corp grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,252,287 shares of the company’s stock after purchasing an additional 20,731 shares during the period. State Street Corp’s holdings in Alignment Healthcare were worth $26,622,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in Alignment Healthcare during the third quarter valued at approximately $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $131,000. Creative Planning grew its holdings in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the third quarter worth $315,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Up 3.3 %

Shares of ALHC stock opened at $10.61 on Monday. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25. The business’s 50 day moving average is $11.92 and its two-hundred day moving average is $10.21. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.03 billion, a PE ratio of -13.78 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share. Equities analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 8,550 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the sale, the chief operating officer now owns 217,395 shares in the company, valued at approximately $2,447,867.70. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Thomas Freeman sold 21,375 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $10.66, for a total value of $227,857.50. Following the sale, the chief financial officer now directly owns 243,054 shares in the company, valued at $2,590,955.64. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,546 shares of company stock worth $7,875,008 in the last ninety days. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. KeyCorp started coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $17.00 in a research report on Tuesday, December 3rd. Finally, UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.44.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.